Hong Kong-based fintech agency RedotPay has reportedly launched its cryptocurrency-enabled payment cards in South Korea, positioning itself as a possible disruptor in a market dominated by conventional bank card corporations and cellular payment providers.
The firm’s crypto debit cards—each bodily and digital—at the moment are accepted in any respect Korean retailers that assist Visa, in accordance with a May 9 report by The Korea Economic Daily.
The transfer marks RedotPay’s newest step in international enlargement, following its earlier partnership with Visa and BIN sponsor StraitsX in February 2025 to boost cross-border crypto payment capabilities.
RedotPay, based in 2023, has quickly scaled for the reason that gentle launch of its crypto card program in late 2024. It now serves greater than 4 million customers worldwide.
In South Korea, customers can obtain a digital card for $10 or a bodily card for $100, with minimal verification necessities, together with identify, handle, and ID.
Reports on social media point out that the cardboard is at present out there to Korean customers. “You can use it immediately with your smartphone and not using a bodily card by merely verifying your identification upon issuance,” one person wrote on X.
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RedotPay cards assist main cryptocurrencies
The RedotPay cards assist main cryptocurrencies like Bitcoin (BTC) and Ether (ETH) and stablecoins akin to USDC (USDC) and USDt (USDT). Users can load their cards with crypto belongings from several blockchains, together with Solana, Polygon, BSC, Tron, and Arbitrum.
One standout function is RedotPay’s real-time stablecoin payment and refund system. When a purchase order is made, stablecoins are deducted immediately from the person’s pockets.
If a transaction is canceled, refunds in USDC or USDT are processed inside minutes.
RedotPay can be suitable with Apple Pay in Seoul, giving it an edge in a market the place Apple Pay is at present restricted to Hyundai Card prospects. The compatibility may show essential as RedotPay challenges Korea’s established payment infrastructure.
Crypto adoption has been accelerating in South Korea, the place over 16 million people reportedly hold crypto. This has additionally made crypto a key matter within the 2025 South Korean presidential race.
On May 6, South Korea’s Democratic Party chief Lee Jae-myung became the latest presidential candidate to vow the approval of spot crypto exchange-traded funds (ETFs) and different crypto-friendly measures, ought to he be elected.
South Korea’s ruling get together, the People Power Party, additionally reportedly made crypto coverage guarantees in late April, which included permitting spot crypto ETFs, dismantling Korea’s controversial one-exchange-one-bank rule, and establishing a regulatory framework for stablecoins.
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